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StemCells, Inc. Adds Byers Eye Institute at Stanford as Second Site for Phase I/II Clinical Trial in Dry Age-Related Macular

StemCells, Inc. Adds Byers Eye Institute at Stanford as Second Site for Phase
I/II Clinical Trial in Dry Age-Related Macular Degeneration

NEWARK, Calif., April 18, 2013 (GLOBE NEWSWIRE) -- StemCells, Inc.
(Nasdaq:STEM) today announced the addition of the Byers Eye Institute at
Stanford, located in Palo Alto, Calif., as a second site for the Company's
Phase I/II clinical trial of its proprietary HuCNS-SC^® product candidate
(purified human neural stem cells) in dry age-related macular degeneration
(AMD). AMD is the leading cause of vision loss and blindness in people over 55
years of age, and approximately 30 million people worldwide are afflicted with
the disease. Approximately 90 percent of AMD patients have the dry form of the
disease and there are no approved treatments for dry AMD.

The Byers Eye Institute at Stanford, which is part of Stanford Hospital &
Clinics, is dedicated to combating blindness and preserving sight.The
Institute leverages the research and teaching strengths of Stanford and
integrates all vision care services at Stanford into one state-of-the-art
facility.Theodore Leng, MD, FACS, clinical assistant professor in
ophthalmology at the Stanford University School of Medicine, is the lead
investigator at the site.Stanford's Department of Ophthalmology is a
nationally acclaimed leader for treatment of retinal diseases, refractive
disorders, neuro-ophthalmic disorders and diseases of the vitrea.

"We are excited to be a part of this groundbreaking clinical trial for macular
degeneration," said Dr. Leng."The Company's preclinical data indicates that
transplanting neural stem cells to protect photoreceptors may prove to be a
viable approach to this debilitating disease.That data provides a very strong
rationale for this innovative cell therapy trial."

"The clinical strategy with our neural stem cells is to preserve visual
function before it is lost," said Stephen Huhn, MD, FACS, FAAP, Vice President
and Head of the CNS Program at StemCells, Inc. "Our published preclinical data
supports this approach in dry AMD and we hope to replicate those results in
this clinical trial.We are very happy to be adding the Byers Eye Institute at
Stanford and their participation is expected to accelerate patient enrollment
for this trial."

The Company initiated the Phase I/II clinical trial last year at the Retina
Foundation of the Southwest (RFSW) in Dallas, Texas.A summary of the
Company's preclinical data underlying the trial was featured in the February
2012 issue of the international peer-reviewed European Journal of Neuroscience
(available at
http://onlinelibrary.wiley.com/doi/10.1111/j.1460-9568.2011.07970.x/abstract).The
data demonstrated that HuCNS-SC cells protect host photoreceptors and preserve
vision in the Royal College of Surgeons (RCS) rat, a well-established animal
model of retinal disease that has been used extensively to evaluate potential
cellular therapies.Transplantation of HuCNS-SC cells into RCS rats
significantly protected photoreceptors from degeneration.Moreover, the number
of cone photoreceptors, which are responsible for central vision, remained
constant over an extended period, consistent with the sustained visual acuity
and light sensitivity observed in the study.In humans, degeneration of the
cone photoreceptors accounts for the unique pattern of vision loss in dry AMD.

About Age-Related Macular Degeneration (AMD)

Age-related macular degeneration (AMD) refers to a loss of photoreceptors
(rods and cones) from the macula, the central part of the retina.AMD is a
degenerative retinal disease that typically strikes adults in their 50's or
60's, and progresses until central vision is lost.There are approximately
1.75 million Americans age 40 years and older with some form of AMD, and the
disease continues to be the number one cause of irreversible vision loss among
senior citizens in the United States with more than seven million at risk of
developing AMD.

About the Clinical Trial

The Phase I/II trial is evaluating the safety and preliminary efficacy of
HuCNS-SC cells as a treatment for dry age-related macular degeneration
(AMD).The trial is an open-label, dose-escalation study, and is expected to
enroll a total of 16 patients.The HuCNS-SC cells will be administered by a
single injection into the space beneath the retina in the most affected
eye.Patients' vision will be evaluated using both conventional and advanced
state-of-the-art methods of ophthalmological assessment.Evaluations will be
performed at predetermined intervals over a one-year period to assess safety
and signs of visual benefit. Patients will then be followed for an additional
four years in a separate observational study.Patients interested in
participating in the clinical trial should contact the Byers Eye Institute at
Stanford at (650) 498-4486 or the Retina Foundation of the Southwest at (214)
363-3911.

About HuCNS-SC Cells

StemCells' lead product candidate, HuCNS-SC cells, is a highly purified
composition of human neural stem cells that are expanded and stored as banks
of cells. The Company's preclinical research has shown that HuCNS-SC cells can
be directly transplanted in the central nervous system (CNS) with no sign of
tumor formation or adverse effects.Because the transplanted HuCNS-SC cells
have been shown to engraft and survive long-term, this suggests the
possibility of a durable clinical effect following a single
transplantation.StemCells believes that HuCNS-SC cells may have broad
therapeutic application for many diseases and disorders of the CNS, and to
date has demonstrated human safety data from completed and ongoing clinical
studies.

About Stanford Hospital & Clinics

Stanford Hospital & Clinics is dedicated to providing leading edge and
coordinated care to each and every patient. It is internationally renowned for
expertise in areas such as cancer treatment, neuroscience, surgery,
cardiovascular medicine and organ transplant, as well as for translating
medical breakthroughs into patient care. Throughout its history, Stanford has
been at the forefront of discovery and innovation, as researchers and
clinicians work together to improve health on a global level.Stanford
Hospital & Clinics: Healing humanity through science and compassion, one
patient at a time. For more information, visit www.stanfordhospital.org.

About StemCells, Inc.

StemCells, Inc. is engaged in the research, development, and commercialization
of cell-based therapeutics and tools for use in stem cell-based research and
drug discovery. The Company's lead therapeutic product candidate, HuCNS-SC^®
cells (purified human neural stem cells), is currently in development as a
potential treatment for a broad range of central nervous system disorders. In
a PhaseI clinical trial in Pelizaeus-Merzbacher disease (PMD), a fatal
myelination disorder in children, the Company has shown preliminary evidence
of progressive and durable donor-derived myelination in all four patients
transplanted with HuCNS-SC cells.The Company is also conducting a Phase I/II
clinical trial in chronic spinal cord injury in Switzerland and recently
reported positive data for the first patient cohort.The Company is also
conducting a Phase I/II clinical trial in dry age-related macular degeneration
(AMD), and is pursuing preclinical studies in Alzheimer's disease.StemCells
also markets stem cell research products, including media and reagents, under
the SC Proven^® brand.Further information about StemCells is available at
http://www.stemcellsinc.com.

Apart from statements of historical fact, the text of this press release
constitutes forward-looking statements within the meaning of the Securities
Act of 1933, as amended, and the Securities Exchange Act of 1934, as amended,
and is subject to the safe harbors created therein. These statements include,
but are not limited to, statements regarding the prospect of the Company's
HuCNS-SC cells to preserve vision; the prospect and timing of patient
enrollment in the Company's clinical trial in dry AMD; the potential of the
Company's HuCNS-SC cells to treat a broad range of central nervous system
disorders; and the future business operations of the Company, including its
ability to conduct clinical trials as well as its other research and product
development efforts. These forward-looking statements speak only as of the
date of this news release. The Company does not undertake to update any of
these forward-looking statements to reflect events or circumstances that occur
after the date hereof. Such statements reflect management's current views and
are based on certain assumptions that may or may not ultimately prove valid.
The Company's actual results may vary materially from those contemplated in
such forward-looking statements due to risks and uncertainties to which the
Company is subject, including the fact that additional trials will be required
to demonstrate the safety and efficacy of the Company's HuCNS-SC cells for the
treatment of any disease or disorder; uncertainty as to whether the results of
the Company's preclinical studies in retinal disease will be replicated in
humans; uncertainty as to whether the FDA or other applicable regulatory
agencies or review boards will permit the Company to continue clinical testing
in spinal cord injury, PMD, AMD, or in future clinical trials of proposed
therapies for other diseases or conditions given the novel and unproven nature
of the Company's technologies; uncertainties regarding the timing and duration
of any clinical trials; uncertainties regarding the Company's ability to
recruit the patients required to conduct its clinical trials or to obtain
meaningful results; uncertainties regarding the Company's ability to obtain
the increased capital resources needed to continue its current and planned
research and development operations; uncertainty as to whether HuCNS-SC cells
and any products that may be generated in the future in the Company's
cell-based programs will prove safe and clinically effective and not cause
tumors or other adverse side effects; uncertainties regarding the Company's
ability to commercialize a therapeutic product and its ability to successfully
compete with other products on the market; and other factors that are
described under the heading "Risk Factors" in the Company's Annual Report on
Form 10-K for the year ended December 31, 2012, and in its subsequent reports
on Forms 10-Q and 8-K.

CONTACT: Rodney Young
         StemCells, Inc.
         Chief Financial Officer
         (510) 456-4128
        
         Ian Stone
         Russo Partners
         (619) 308-6541

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